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11 Princes Street, Otahuhu, Auckland, 46 Bedrooms, 0 Bathrooms, Industrial Buildings

Sold: Sold price unknown

Sold on 2024 Year 2024 Month 07 Day 01

11 Princes Street, Otahuhu, Auckland

46
1287m2
675m2

Nestled at 11 Princes Street, Otahuhu, Auckland, this Freehold property is a gem in the commercial accommodation sector. It boasts 46 bedrooms, 6 carparks, and a spacious floor area of 1287 square meters on a land of 675 square meters. Constructed in 2002 with mixed materials for both the walls and roof, it presents an average condition throughout. The property has seen a significant Capital Value (CV) increase from $2,650,000 in 2017 to $3,475,000 as of June 2021, marking a growth of 31.13%. The HouGarden AVM estimates the property's worth at $3,390,000, while the latest sales history shows transactions at $900,000 in 2010 and $2,400,000 in 2006. This is a secure investment with potential for future redevelopment, currently returning approximately $260,000 net per annum and boasting a 100% occupancy rate.

As for the government's valuation, the property has appreciated in value, reflecting a promising investment prospect. The Otahuhu College in the area is a Secondary school with a decile rating of 1, indicating a strong educational institution within the zone.

With a sitting manager committed for the past 12 years and the prospect of a double-digit yield, this high-yielding, recession-proof cash cow is an opportunity not to be missed.

Updated on August 20, 2024

Council Data

Last update : 2025 02 19
Improvement value$2,625,000Increased by 38% from year 2017
Land value$850,000Increased by 11% from year 2017
CV(Year 2021 Month 06)$3,475,000Increased by 31% from year 2017
Land area675m²
Floor area1287m²
Decade of construction2002
TitleNA8D/589
Type of titleFreehold
Legal descriptionLOT 4 DP 22440
CouncilAuckland - City
Estate descriptionFSIM,1/1,LOT 4 DEPOSITED PLAN 22440,675m2
Council rates$20,050.34
2023/2024
ConditionExternal Walls: Average
Roof: Average
ZoningBusiness - Town Centre Zone

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School zones

Property history

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Unitary plan:Business - Town Centre Zone
Land:675m²
Title:Freehold
城市規劃
地下管道
淹水區
等高線
State houses

Surrounding facilities

Princes Street Neighborhood and Surrounding Data

Suburbs

Data analysis - Otahuhu properties data
Sales count(Last 12 months)
Type: Freehold
Sales median price(Last 12 months)
$1,592,391
Low: $997,000, High: $2,260,000
Rent median price(Last 12 months)
-
Otahuhu property trend
Year
Median price
Growth
Sales count
2024
$1,592,391
14.6%
6
2023
$1,390,000
55.7%
7
2022
$893,000
-43.3%
2
2021
$1,575,000
37%
10
2020
$1,150,000
-56.6%
5
2019
$2,650,000
133%
3
2018
$1,137,500
25%
4
2017
$910,000
29.5%
1
2016
$702,500
-29.3%
4
2015
$993,000
46.1%
10
2014
$679,500
-
10

Mortgage

Sold nearby

Address
Distance
Bed
Bath
Floor area
Sold date
Sold
Data source
6 Atkinson Avenue, Otahuhu
0.35 km
20
10
0m2
Year 2024 Month 12 Day 12
-
Council approved
82 Church Street, Otahuhu
0.37 km
3
1
170m2
Year 2024 Month 11 Day 05
-
Council approved
17 Church Street, Otahuhu
0.46 km
4
2
150m2
Year 2024 Month 09 Day 24
$1,055,000
Council approved
18 Atkinson Avenue, Otahuhu
0.34 km
6
6
-m2
Year 2024 Month 09 Day 01
$1,500,000
Council approved
34 Avenue Road, Otahuhu
0.36 km
3
1
-m2
Year 2024 Month 09 Day 01
$750,000
Council approved

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